The S&P/TSX Composite experienced a notable increase of 1.6% in the trading week ending Friday, marking an 8.6% rise for the year 2026, dividends included. As of now, the index’s Relative Strength Index (RSI) stands at 66. This indicates a position in the technically neutral zone, though it is nearing the overbought threshold of 70, rather than the oversold signal at 30.
Oversold and Overbought Stocks on the TSX
This week, there are two stocks categorized as oversold. They are:
- Allied Properties REIT
- Goeasy Ltd.
Conversely, the list of overbought companies consists of 22 members. This figure is surprisingly lower than anticipated, given the index’s proximity to the overbought zone. The five most overbought companies this week include:
- Northland Power Inc.
- Canadian Natural Resources Ltd.
- Canadian Pacific Kansas City Ltd.
- AltaGas Ltd.
- Topaz Energy Corp.
Strong Price Momentum on the TSX
Additionally, a remarkable 53 constituents of the TSX are hitting new 52-week highs, reflecting strong price momentum. These companies, ranked by market capitalization, comprise:
- Agnico Eagle Mines Ltd.
- Canadian Natural Resources Ltd.
- Canadian Pacific Kansas City Ltd.
- Wheaton Precious Metals Corp.
- Canadian National Railway Co Ltd.
However, it is noteworthy that only one stock, Goeasy Ltd., is reaching new 52-week lows. Investors should consider these trends when analyzing potential opportunities on the TSX.
